LONDON May 16 Carphone Warehouse,
Europe's biggest independent mobile phone retailer, said it and
the other shareholders of the Virgin Mobile business in France
have agreed to sell the venture to Numericable Group
for an enterprise value of 325 million euros ($446 million).
Carphone, which owns 46 percent of Virgin Mobile France's
holding company Omer Telecom Limited, said on Friday it and the
other shareholders had entered into an exclusivity agreement
with Numericable regarding the proposed sale.
"During the exclusivity period the parties will carry out
the necessary consultations with employee work councils, with
the transaction also being subject to the approval of the French
Competition Authority," Carphone said.
On Thursday Carphone and Dixons Retail, Europe's
No. 2 electricals retailer, announced plans for an all-share
($1 = 0.7291 Euros)
(Reporting by James Davey; Editing by Brenda Goh)